UNITED STATES August 07 2014 4:16 PM
NEW YORK (Scrap Register): United States hot rolled cold (HRC) steel prices rose further by $7 a short ton or 1% week-on-week to $679 a short ton in the week ended August 01st.
According to TSI, US HR sheet prices in the Midwest region rose last week as a number of trades concluded close to the $680 a short ton mark.
US GDP figures for Q2 were higher than expected at 4% on an annual basis with both household spending on consumers goods and the housing sector posting gains.
Economists predict both of those steel-end user sectors are expected to remain strong in H2, boding well for the industry as a whole.